The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1887-04-29
LIFE INSURANCE COMPANIES.
Annual Report of the New Hamp-
shire Commissioner.

CONCORD, N. H., April 2S.-From the ad-
vance sheets of the eighteenth annual report
OF Hon. Oliver Pillsbury, insurance commits
sioner, the following facts are learned cover
ing the business of the year 1886; The fire
insurance companies organized under the
laws of this state consist of eight stock, II
state and 21 town mutual These companies
assumed risks in this State last year amount
ing to. $50, 0,076,353. The fire companies that
withdrew from the State December 81. 1886,
has still in force in this State risks to the
amount of S26,549,858. The Associated
Manufacturers Mutual under their peculiar
system had risks in force in this State at the
same date amounting to $35,047,729. Under
ground operators, also, have no inconsider-
able amount at risks in the State, although
this amount has decreased materially since
several of the wildcat genus collapsed The
amount at risk in the State at the close of
last year was carried as follows:s Home
companies, 100000; retired companies, $780,
549,95S manufacturers' mutuals, 5,047, ,729;
total, $121, ,587 ,6S7. Cash premiums were
received by home companies in 1886 to the
amount of 1856, ,9l4.35, showing an average
charge of LII per cent. on the amount in
sured.
The following losses were paid, although
outside agency companies, doing most of the
business in the State, are not included here:
In home companies, $113,030; retired COM
panies, $155-437; manufacturers mutuals,
1887; town mutual, $2,072; outside agency
companies, $12, 800 ,total, .S2S2, ,537.
Mr.. Pillsbury says: "The capital Of all
our stock companies might be doubled, and
their number, too, and they would then be
inadequate to safely insure the insurable
property of the State. There is therefore
necessity under the existing circumstances
for the building up of mutual companies.
By recurrence to the figures already given it
will be noticed that home companies are not
now carrying half, of the insurance in force
in the State, if manufacturers mutuals are
included, and that they paid less than 40
per cent. of the losses that were paid during
the past year. Most of the risks still car
ried by retired companies will expire during
the current year. The retired companies
paid more than twice as much on losses
in this Stste in 1885 as in 1886, and of
course will pay much less in 1887, since their
risks in force are much reduced by expira-
tions. These facts may not be pleasant to
contemplate, but it is unwise to ignore
them and thus deceive ourselves.
/ do not allude to them to awaken anxiety,
but as an admonition to our insurance COM
panies to strengthen and fortify themselves
for the protection they will be called upon
to afford" In view of the situation it has
been very properly suggested as means of
inviting capital to enlist in the insurance
business that all insurance business be ex-
empt from taxation. The situation of life
insurance remains practically unchanged,
the three assessment companies incorporated
by the Legislature and private associations
OF similar character having about held
their own during the year.